by Alexandru Petrescu 
Download the ESOP study Office Market Snapshop in Q2 2021
In the second quarter of 2021, one office building, Tiriac Tower, with a total leasable area of 16,500sqm, was completed in Bucharest, while two other projects are also very close to completion: Globalworth Square and Politehnica Business Tower.
In Q2 2021, in Bucharest, was rented a total area of 80,400sqm of modern office spaces, out of which 40% was represented by the renewal of lease contracts in the current premises and 60% net take-up (newly contracted offices and expansions in the existing ones).
The most sought-after area was the Central-North one, with 57% of the companies’ preferences for renting new spaces.
The most active tenants were companies in the Medical & Pharma and Professional Services sectors, with 25% and 24% of the net take-up, respectively.
| Area | Project Name | Delivery | Surface (sqm) | Location |
| CENTRAL-WEST | Campus 6.2 | S1 2021 | 20,600 | Grozavesti |
| ONE Cotroceni Park – Phase 1 | S2 2021 | 46,000 | Cotroceni | |
| Sema Parc – Oslo Building | S2 2021 | 21,300 | Splaiul Independentei | |
| Sema Parc – London Building | S2 2021 | 10,200 | Splaiul Independentei | |
| CENTRAL-NORTH | Tiriac Tower | S1 2021 | 16,500 | Victoriei Square |
| J8 Office Park – Buildings A and B | S2 2021 | 46,000 | Presei Square | |
| Globalworth Square | S2 2021 | 30,800 | Barbu Vacarescu | |
| CENTRAL-SOUTH | U-Center – Building A | S2 2021 | 32,800 | Tineretului |
By the end of 2021, over 290,000 sqm of modern office space is forecasted to be completed.
The map shows the rent levels by class in the main business areas. During the year, some adjustments might take place.
ESOP’s portfolio includes, in addition to office buildings for rent in Bucharest, office spaces for sale in Bucharest, industrial parks and warehouses for rent, as well as office spaces for rent in the main cities of the country.
If you would like more information, please contact the ESOP team by filling this brief form, or by phone (+4) 0723.26.61.97 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!
Founding Managing Partner of ESOP Consulting | CORFAC International with 21 years of experience in real estate consulting and entrepreneurship.
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